Inflation temporary, will reduce soon: PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan assured Thursday of expeditious progress on projects under the China-Pakistan Economic Corridor (CPEC) despite some relevant departments having faced difficulties due to COVID-19.

He said inflation was a temporary phenomenon which will reduce soon. The prime minister was addressing a ceremony held here in connection with the inauguration of a 600-KV transmission line running between Matiari and Lahore. He explained that the pandemic had stalled communications in many areas, led to travel bans and affected supply chains across the world, which increased food prices.

And, as a result of that, he noted, difficulties were also faced in the execution of CPEC projects, but the setback was temporary, expressing the hope that with vaccinations against the coronavirus picking up pace across the world, the coming waves of the pandemic would not be as intense as earlier ones and in turn, the work on CPEC projects would not be affected but expedited instead.

Presiding over a meeting of the Senate Standing Committee on Planning and Development, the committee chairman Senator Saleem Mandviwalla of PPP had said that the Chinese were not satisfied with the pace of work on CPEC and no progress on the portfolio had been seen during the last three years.

However, Planning, Development and Special Initiatives Minister Asad Umar had put side the reports a day after the Senate body's meeting, rejecting a perception that CPEC had been slowed down over the past three years, and claimed that major work on the corridor projects had been completed during the tenure of the present PTI government.

The premier said that the transmission lines are old and power losses are high, due to which even if there is electricity, it cannot be saved. The increase in line losses puts a burden on the people, he said, hoping that the new project will save electricity.

The Matiari-Lahore transmission line, one of the projects completed under CPEC, was described as the state-of-the-art by Prime Minister Imran Khan in his address, who said the project officially commenced in 2013, but work on it had not been started until 2018. He congratulated all those involved in the speedy completion of this project over a course of three years, and added that the project would help minimise line losses.

The prime minister noted, “One percent line loss costs us billions of rupees and it is one of the reasons we are unable to meet electricity demand and end the problem of loadshedding, but this 886-kilometre-long transmission line would help address these issues.”

In this connection, he said that the scope of initiatives taken under the CPEC had now been expanded to cover electricity transmission. He said that in the power sector, there are 17 percent line losses on old transmission lines. Through this project, he shared, line losses will be brought down to 4 percent.

Meanwhile, Imran Khan said while presiding over a meeting of the National Coordinating Committee for Housing and Construction that food security and climate change are currently the most important issues in the world, including Pakistan.

“The government is taking steps to reclaim the occupied land. Strict enforcement of law should be ensured for relinquishment of occupied land,” he emphasised.

The prime minister contended that the government is ensuring protection of forest lands for environmental protection. The Capital Development Authority (CDA) chairman briefed the meeting regarding the ongoing development projects in Islamabad. The briefing also noted that the digitisation of forest land records in Islamabad is also almost complete. The meeting was also given a detailed briefing on cadastral mapping by the Surveyor General.

Meanwhile, the prime minister said the 2,000-kanal project on the Ravi Riverfront will be unveiled by Ruda at the Dubai Expo 2020 starting next month to attract investors. To this effect, Imran Khan chaired a review meeting on Ravi Urban Development Authority (Ruda) and Central Business District (CBD), Walton.

RUDA’s various projects include the installation of a solar-powered renewable power plant, the establishment of Special Economic Zones (SEZs) and Special Technology Zones (STZs), the launch of ferry operations, the establishment of a knowledge park and the establishment of farms.

All of these projects will be independent of their financial needs, to ensure their sustainability, the meeting was told. The prime minister was also briefed on the plan to build the largest theme park in Pakistan in collaboration with IMG Dubai Theme Park.

The prime minister emphasized the importance of Ruda and CBD for the promotion of smart, self-sufficient, clean and green houses and business projects in the country. Prime Minister directed the concerned authorities to address the issues by adopting a proactive strategy so that Pakistan could reap maximum benefits from these innovative and sustainable real estate projects by attracting foreign direct investment (FDI).